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Stemming from a 1960s nationalization effort most Syrian economy is run by the government. However, owing to the
inefficient public sector, significant domestic subsidies, and considerable intervention investment in Lebanon inflation and external debt have become significant problems. Consequently, the Syrian government has undertaken modest
privatization reform in
preparation for the opening of the Damascus Stock Exchange in 2009. Modest oil production and an agriculture sector lead Syria's production while most of its employment is in the service sector. Its per capita GDP stands at $4,700.